Page 14 - SAMENA Trends - November-December 2022

FEATURED SAMENA TRENDS

The Saudi Vision 2030 has catalyzed tremendous The growth and expansion plan During the past two years, stc Group
mobilization of resources and investments in the ICT launched by stc Group at the has launched subsidiaries in the
sector and has affirmed the need for innovative digital beginning of the second decade of fields of cybersecurity, Internet of
services and capacity-building for the Saudi citizens. the 21st century has since driven Things, cloud computing, infrastruc-
the digital transformation journey ture and 5G technologies that serve
stc Group, as the leading digital enabler in Saudi in the Kingdom and has undergone different gulf communities and sup-
Arabia as well as the region, has been at the forefront evolution as a result of the technical port the digital transformation in the
of adopting and integrating advanced technologies to development witnessed in the region. Furthermore, the group ob-
boost the Kingdom’s socio-economic transformation region. tained the most valuable brand cer-
by harnessing the power of digital communications tificate in the Middle East region in
technologies. Ultimately, it aims to help realize the Over the past few years, stc Group the telecommunications sector, ac-
country’s considerable potential and achieve its Vision has transformed from a mere cording to the classification of Brand
2030 goals by accelerating the digital transformation of communication and internet service Finance International. The success
its burgeoning and thriving industries. To this effect, stc provider to being a leading regional story of this development, growth
group, in addition to its digital services and solutions, digital enabler. The comprehensive and accomplishments achieved by
has also specifically focused on modernizing the strategy launched by the group had the group extended to become the
nation’s industrial landscape, spurring the shift from a transformative role in catalyzing main driving force of the commu-
traditional factories to automated facilities powered by digital transformation in the GCC nications and information technol-
robots and artificial intelligence. region’s largest economy, further ogy sector for both Kuwait and the
driving investment and sector Kingdom of Bahrain, in addition to its
diversification in Saudi Arabia. home market of Saudi Arabia.

stc Group has launched subsidiaries in
the fields of cybersecurity, Internet of
Things, cloud computing, infrastructure

and 5G technologies that serve different
gulf communities and support the digital
transformation in the region.

stc Group's Accelerated Investment & Growth Path in the GCC Region
The beginning of the group’s success story in the expansion and
growth process accelerated in Kuwait, where, in its first year, it
attracted half a million customers and within only four years it began
to achieve profitable returns for investors. The company’s official
listing on the Kuwait Stock Exchange was one of the highlights of
success and growth, as the volume of retained profits increased with
the development of the company’s profits. It also acquired the second
place in terms of revenues and market share from the subscribers,
afterwards the achievements continued until it acquired a market share
of about 36% of the sector’s revenues in 2021.

In the Kingdom of Bahrain, stc Group entered the telecom market in 2010
as the third telecom operator in the Kingdom. The group quickly became
a major driving force towards achieving the digital transformation
vision, as it captured 41% of the market revenues, and proved its
strength in the competition to become the first operator in the mobile
phone markets, carrier sector customers and operators in the Kingdom
of Bahrain, as well as the fastest performing company throughout the
region and the first in developing local, regional and global networks,
through continuous investments in infrastructure development. It was
approved as the first commercial operator of the 5G network in Bahrain
in the field of cybersecurity, and cloud computing. The company also
provided services outside the scope of communications, including
financial services and insurance services at the highest levels, in order
to keep up with the requirements of customers' daily lives.

14 NOVEMBER- DECEMBER 2022